Group says that it shows that London-based companies are changing their approach to recovery facility provision.

ICM Computer Group plc has announced that it has signed a major contract with a ‘substantial international financial institution’ to provide business continuity and data centre services at ICM’s London Essex Business Continuity Centre.

The combination of this five-year contract with two already secured from other international institutions, will have a positive impact upon the Group's profitability in the current financial year (to 30 June 2007) and provides additional forward earnings visibility.

In October 2005 ICM acquired the 73,000 sq ft Business Continuity Centre site in Romford to address what it sees as the rapidly growing demand for 'out of London' business continuity facilities serving the financial and commercial markets. A rapid specialist refit was initiated in order to take advantage of this strong customer demand. Following the refit which was completed on 16 May 2006, the new centre provides up to 1,700 office and dealing room recovery positions, together with substantial data centre facilities.

ICM now has four centres in and around London, three of which, (Romford, High Wycombe and Sevenoaks) are specifically located to provide alternative workplace facilities outside of central London. In total these outer London sites provide 2,260 office and dealing room recovery positions. The fourth site (Wapping) provides 550 recovery positions in inner London.

Steve Wainwright, ICM's chief executive, commented:
“This third earnings enhancing contract validates our strategy to acquire and rapidly refit this site to meet customer demand and moves the site into profitability within just two months of opening.

“I am confident that other contracts will follow as the combination of regulatory requirements, the continuing possibility of a wide area disruption and travel logistics, not to mention staff sentiment, mean that more organisations will choose to have alternative workplace facilities outside of central London.”

Mike Osborne, ICM’s managing director, business continuity, told Continuity Central that the immediate success of the new London Essex Business Continuity Centre supports ICM’s long held view that organisations should have an inner-outer London strategy.

“This contract award is the third in quick succession from global institutions that are markedly changing their previous plans of inner London recovery to a more resilient 'outer London' solution,” Mr. Osborne said. “Looking at ongoing opportunities in the market - there is a definite trend emerging to have more dedicated seats, and to move long-term recovery out of London, whilst retaining modest critical short-term support near by.”

http://www.icm-computer.co.uk

•Date: 12th July 2006• Region: UK •Type: Article •Topic: BC markets
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